MSG Networks Inc (NYSE:MSGN) Given Consensus Recommendation of “Hold” by Analysts

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MSG Networks Inc (NYSE:MSGN) has been assigned a consensus recommendation of “Hold” from the ten ratings firms that are covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $18.25.

A number of analysts recently commented on MSGN shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $17.00 price objective on shares of MSG Networks in a research note on Thursday, March 12th. Zacks Investment Research raised MSG Networks from a “strong sell” rating to a “hold” rating in a research note on Thursday. Guggenheim lowered MSG Networks from a “neutral” rating to a “sell” rating in a research note on Wednesday, November 27th. Finally, ValuEngine lowered MSG Networks from a “hold” rating to a “sell” rating in a research note on Tuesday, March 3rd.

Shares of MSG Networks stock traded up $0.02 during trading hours on Thursday, hitting $11.07. 64,576 shares of the company were exchanged, compared to its average volume of 1,119,299. MSG Networks has a 1 year low of $10.32 and a 1 year high of $23.83. The business has a 50-day moving average of $13.62 and a 200-day moving average of $15.85. The stock has a market capitalization of $663.02 million, a price-to-earnings ratio of 4.48, a P/E/G ratio of 0.60 and a beta of 0.87.

MSG Networks (NYSE:MSGN) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.06). MSG Networks had a net margin of 25.06% and a negative return on equity of 32.08%. The firm had revenue of $187.73 million during the quarter, compared to analysts’ expectations of $188.55 million. During the same quarter in the prior year, the business earned $0.58 EPS. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. On average, research analysts predict that MSG Networks will post 2.68 EPS for the current year.

In related news, CEO Andrea Greenberg sold 51,667 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $16.11, for a total transaction of $832,355.37. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 26.55% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the business. Russell Investments Group Ltd. lifted its stake in shares of MSG Networks by 29.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 53,175 shares of the company’s stock valued at $865,000 after purchasing an additional 12,093 shares in the last quarter. Aigen Investment Management LP purchased a new stake in shares of MSG Networks during the 4th quarter valued at about $1,889,000. Squarepoint Ops LLC raised its holdings in shares of MSG Networks by 288.1% during the 3rd quarter. Squarepoint Ops LLC now owns 161,178 shares of the company’s stock valued at $2,614,000 after buying an additional 119,651 shares during the period. California State Teachers Retirement System raised its holdings in shares of MSG Networks by 1.2% during the 3rd quarter. California State Teachers Retirement System now owns 91,197 shares of the company’s stock valued at $1,479,000 after buying an additional 1,089 shares during the period. Finally, California Public Employees Retirement System raised its holdings in shares of MSG Networks by 16.5% during the 3rd quarter. California Public Employees Retirement System now owns 120,889 shares of the company’s stock valued at $1,961,000 after buying an additional 17,134 shares during the period. 93.38% of the stock is currently owned by hedge funds and other institutional investors.

MSG Networks Company Profile

MSG Networks Inc engages in the sports production, and content development and distribution businesses in the United States. The company owns and operates MSG Network and MSG+, which are regional sports and entertainment networks. It also operates MSG GO that provides live streaming and video on demand, as well as a Website and social media platforms for its brands.

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Analyst Recommendations for MSG Networks (NYSE:MSGN)

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